Redwire Co. (NYSE:RDW) Stock Holdings Reduced by Nuveen Asset Management LLC

Nuveen Asset Management LLC lowered its stake in Redwire Co. (NYSE:RDW) by 8.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 91,745 shares of the company’s stock after selling 8,765 shares during the period. Nuveen Asset Management LLC owned approximately 0.14% of Redwire worth $1,510,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in RDW. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Redwire by 4.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,876 shares of the company’s stock valued at $212,000 after acquiring an additional 532 shares during the period. Jacobs Levy Equity Management Inc. bought a new stake in shares of Redwire during the 4th quarter valued at $4,830,000. Balyasny Asset Management L.P. bought a new stake in shares of Redwire in the 4th quarter valued at $285,000. Bank of America Corp DE raised its stake in shares of Redwire by 72.7% in the 4th quarter. Bank of America Corp DE now owns 39,717 shares of the company’s stock valued at $654,000 after purchasing an additional 16,715 shares during the period. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Redwire in the 4th quarter valued at about $234,000. 8.10% of the stock is currently owned by institutional investors.

Redwire Trading Up 6.7%

Shares of NYSE RDW opened at $14.86 on Wednesday. The firm’s 50-day moving average price is $10.98 and its 200-day moving average price is $14.08. Redwire Co. has a 1-year low of $4.84 and a 1-year high of $26.66. The firm has a market capitalization of $1.15 billion, a P/E ratio of -12.28 and a beta of 2.46.

Redwire (NYSE:RDW) last posted its earnings results on Monday, May 12th. The company reported ($0.20) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.20). The business had revenue of $61.40 million during the quarter, compared to analyst estimates of $74.54 million. Equities research analysts forecast that Redwire Co. will post -0.85 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Alliance Global Partners restated a “buy” rating on shares of Redwire in a report on Monday, May 12th. HC Wainwright reiterated a “buy” rating and issued a $26.00 price target on shares of Redwire in a research report on Wednesday, March 12th. Wall Street Zen upgraded shares of Redwire from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 22nd. B. Riley lowered their price target on shares of Redwire from $27.00 to $25.00 and set a “neutral” rating for the company in a report on Wednesday, March 12th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $28.00 price objective on shares of Redwire in a research note on Tuesday, March 11th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Redwire presently has an average rating of “Moderate Buy” and an average price target of $20.05.

Redwire Company Profile

Redwire Corporation provides critical space solutions and space infrastructure for government and commercial customers in the United States, Europe, and internationally. The company provides avionics and sensors including star trackers, sun sensors, critical for navigation, and control of spacecraft; camera systems; solar array solutions for spacecraft spanning the spectrum of size, power needs, and orbital location; and strain composite booms, coilable booms, truss structures, telescope baffles, and deployable booms to position sensors or solar arrays away from the spacecraft.